PSP urges private sector to exploit DTC relocation

PSP urges private sector to exploit DTC relocation KEIKANTSE LESEMELA
Correspondent The private sector has been urged to utilise business opportunities inherent in the relocation of the Diamond Trading Company (DTC) from London to Gaborone.

The permanent secretary to the president, Eric Molale told private business owners at the Botswana Confederation of Commerce, Industry and Manpower (BOCCIM) AGM yesterday that government wants to ensure that the relocation of DTC generates business opportunities for Batswana."We want to ensure that the DTC relocation generates business opportunities and attracts unrelated businesses by individuals. We need to move DTC into Botswana not just as a marketing platform for development but also to create economic sustainability," said Molale.

He noted that since 67 percent of the world diamonds come from Botswana, the relocation seeks to ensure that Batswana participate in diamond processing. Molale explained to BOCCIM members that diamond revenues are expected to decline around 2026 as the value of the resource declines at the world richest mine, Jwaneng.He revealed that opportunities exist across sectors such as education, tourism, minerals and many others. The relocation of the DTC will see P45 billion worth of diamond business passing through the local banking system with  60 to 70 international diamond business persons coming to Gaborone at least ten times a year to buy diamonds.  Molale however urged business owners to offer quality services, as most workers who will come here expect such services as quality education.  He advised that the tourism sector also has to prime itself for the visitors."The tourism industry lacks quality and promptness. We need to ensure that our services are of a high quality standard," he noted.

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PSP urges private sector to exploit DTC relocation

Oliphant Drift/Ramotlabaki councillor, Letsebe Letsebe re-joined the Botswana Na...

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PSP urges private sector to exploit DTC relocation KEIKANTSE LESEMELA
Correspondent The private sector has been urged to utilise business opportunities inherent in the relocation of the Diamond Trading Company (DTC) from London to Gaborone.

The permanent secretary to the president, Eric Molale told private business owners at the Botswana Confederation of Commerce, Industry and Manpower (BOCCIM) AGM yesterday that government wants to ensure that the relocation of DTC generates business opportunities for Batswana."We want to ensure that the DTC relocation generates business opportunities and attracts unrelated businesses by individuals. We need to move DTC into Botswana not just as a marketing platform for development but also to create economic sustainability," said Molale.

He noted that since 67 percent of the world diamonds come from Botswana, the relocation seeks to ensure that Batswana participate in diamond processing. Molale explained to BOCCIM members that diamond revenues are expected to decline around 2026 as the value of the resource declines at the world richest mine, Jwaneng.He revealed that opportunities exist across sectors such as education, tourism, minerals and many others. The relocation of the DTC will see P45 billion worth of diamond business passing through the local banking system with  60 to 70 international diamond business persons coming to Gaborone at least ten times a year to buy diamonds.  Molale however urged business owners to offer quality services, as most workers who will come here expect such services as quality education.  He advised that the tourism sector also has to prime itself for the visitors."The tourism industry lacks quality and promptness. We need to ensure that our services are of a high quality standard," he noted.

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USRBC Urges Congress to Not Hold Business Back from Opportunities in Russia - PR Newswire

WASHINGTON, March 14, 2012 /PRNewswire-USNewswire/ -- The U.S.-Russia Business Council (USRBC), the U.S.-based trade association leading the organized U.S. business community campaign to ensure that U.S. commercial interests are fully protected once Russia enters the World Trade Organization (WTO) this summer, urged the U.S. Congress today to not hold U.S. business back from export opportunities in Russia.

"Russia's $1.9 trillion economy is a promising market, and U.S. business should have the full benefits that come with Russia's WTO accession – just like our foreign competitors," said Klaus Kleinfeld, USRBC Chairman and Chairman and CEO of Alcoa, Inc.  "Congress must work swiftly to graduate Russia from the Jackson-Vanik amendment and enact Permanent Normal Trade Relations (PNTR) with Russia to ensure that U.S. firms can stay competitive in the Russian market." 

Russia has long fulfilled the requirements of the 1970s–era Jackson-Vanik amendment, which conditions Russia's trade status with the United States on Russia's emigration policies.  Each U.S. President since 1994 has determined annually that Russia is in compliance with the Jackson-Vanik amendment and has extended normal trade relations (NTR) to Russia, but in order for U.S. business to fully access Russia's WTO commitments, Congress must graduate Russia from Jackson-Vanik and make Russia's NTR status permanent.  

"Russia prefers high-quality goods, and we also anticipate a significant increase in its demand for services as it implements WTO commitments and its economy becomes more competitive," noted USRBC President and CEO Edward Verona.  "Russia can either turn to U.S. manufacturers and service providers to diversify its economy - or it can sign contracts with our competitors in Europe, Asia and elsewhere. It's time for the U.S. Congress to definitively recognize that Russia is in compliance with Jackson-Vanik amendment and pass PNTR so that U.S. firms can not only access the WTO market liberalizations Russia agreed to, but also the WTO's transparency and commercial accountability provisions."  U.S. firms also need PNTR to access Russia's WTO commitments in services, intellectual property, animal and plant health – and the WTO dispute settlement mechanism.

The United States currently accounts for only 4% of Russia's imports, but U.S. businesses are actively seeking to gain market share in this $310 billion import market.  "Our firms are increasingly looking at Russia as part of their global growth strategy," said Mr. Verona. "We see great long-term potential in Russia, but the challenges of doing business there require that U.S. firms avail themselves of all possible tools to address issues that may arise."

"Congress's timely action on Jackson-Vanik and PNTR with Russia will offer additional opportunities for U.S. business and the U.S. economy to prosper, as we create and maintain jobs based on increased trade with Russia," said Mr. Kleinfeld.

The U.S.-Russia Business Council (USRBC) represents the interests of its 250 U.S. and Russian member companies, providing business development and government relations support in both Moscow and Washington. The USRBC contributes to the stability and development of a free market in Russia and supports Russia's integration into the global economy. It also serves as the Secretariat for the Coalition for U.S.-Russia Trade (www.usrussiatrade.org). For more information, visit the USRBC online at: www.usrbc.org.

SOURCE U.S.-Russia Business Council

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USRBC Urges Congress to Not Hold Business Back from Opportunities in Russia - PR Newswire

WASHINGTON, March 14, 2012 /PRNewswire-USNewswire/ -- The U.S.-Russia Business Council (USRBC), the U.S.-based trade association leading the organized U.S. business community campaign to ensure that U.S. commercial interests are fully protected once Russia enters the World Trade Organization (WTO) this summer, urged the U.S. Congress today to not hold U.S. business back from export opportunities in Russia.

"Russia's $1.9 trillion economy is a promising market, and U.S. business should have the full benefits that come with Russia's WTO accession – just like our foreign competitors," said Klaus Kleinfeld, USRBC Chairman and Chairman and CEO of Alcoa, Inc.  "Congress must work swiftly to graduate Russia from the Jackson-Vanik amendment and enact Permanent Normal Trade Relations (PNTR) with Russia to ensure that U.S. firms can stay competitive in the Russian market." 

Russia has long fulfilled the requirements of the 1970s–era Jackson-Vanik amendment, which conditions Russia's trade status with the United States on Russia's emigration policies.  Each U.S. President since 1994 has determined annually that Russia is in compliance with the Jackson-Vanik amendment and has extended normal trade relations (NTR) to Russia, but in order for U.S. business to fully access Russia's WTO commitments, Congress must graduate Russia from Jackson-Vanik and make Russia's NTR status permanent.  

"Russia prefers high-quality goods, and we also anticipate a significant increase in its demand for services as it implements WTO commitments and its economy becomes more competitive," noted USRBC President and CEO Edward Verona.  "Russia can either turn to U.S. manufacturers and service providers to diversify its economy - or it can sign contracts with our competitors in Europe, Asia and elsewhere. It's time for the U.S. Congress to definitively recognize that Russia is in compliance with Jackson-Vanik amendment and pass PNTR so that U.S. firms can not only access the WTO market liberalizations Russia agreed to, but also the WTO's transparency and commercial accountability provisions."  U.S. firms also need PNTR to access Russia's WTO commitments in services, intellectual property, animal and plant health – and the WTO dispute settlement mechanism.

The United States currently accounts for only 4% of Russia's imports, but U.S. businesses are actively seeking to gain market share in this $310 billion import market.  "Our firms are increasingly looking at Russia as part of their global growth strategy," said Mr. Verona. "We see great long-term potential in Russia, but the challenges of doing business there require that U.S. firms avail themselves of all possible tools to address issues that may arise."

"Congress's timely action on Jackson-Vanik and PNTR with Russia will offer additional opportunities for U.S. business and the U.S. economy to prosper, as we create and maintain jobs based on increased trade with Russia," said Mr. Kleinfeld.

The U.S.-Russia Business Council (USRBC) represents the interests of its 250 U.S. and Russian member companies, providing business development and government relations support in both Moscow and Washington. The USRBC contributes to the stability and development of a free market in Russia and supports Russia's integration into the global economy. It also serves as the Secretariat for the Coalition for U.S.-Russia Trade (www.usrussiatrade.org). For more information, visit the USRBC online at: www.usrbc.org.

SOURCE U.S.-Russia Business Council

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http://www.usrbc.org

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USRBC Urges Congress to Not Hold Business Back from Opportunities in Russia - PR Newswire

WASHINGTON, March 14, 2012 /PRNewswire-USNewswire/ -- The U.S.-Russia Business Council (USRBC), the U.S.-based trade association leading the organized U.S. business community campaign to ensure that U.S. commercial interests are fully protected once Russia enters the World Trade Organization (WTO) this summer, urged the U.S. Congress today to not hold U.S. business back from export opportunities in Russia.

"Russia's $1.9 trillion economy is a promising market, and U.S. business should have the full benefits that come with Russia's WTO accession – just like our foreign competitors," said Klaus Kleinfeld, USRBC Chairman and Chairman and CEO of Alcoa, Inc.  "Congress must work swiftly to graduate Russia from the Jackson-Vanik amendment and enact Permanent Normal Trade Relations (PNTR) with Russia to ensure that U.S. firms can stay competitive in the Russian market." 

Russia has long fulfilled the requirements of the 1970s–era Jackson-Vanik amendment, which conditions Russia's trade status with the United States on Russia's emigration policies.  Each U.S. President since 1994 has determined annually that Russia is in compliance with the Jackson-Vanik amendment and has extended normal trade relations (NTR) to Russia, but in order for U.S. business to fully access Russia's WTO commitments, Congress must graduate Russia from Jackson-Vanik and make Russia's NTR status permanent.  

"Russia prefers high-quality goods, and we also anticipate a significant increase in its demand for services as it implements WTO commitments and its economy becomes more competitive," noted USRBC President and CEO Edward Verona.  "Russia can either turn to U.S. manufacturers and service providers to diversify its economy - or it can sign contracts with our competitors in Europe, Asia and elsewhere. It's time for the U.S. Congress to definitively recognize that Russia is in compliance with Jackson-Vanik amendment and pass PNTR so that U.S. firms can not only access the WTO market liberalizations Russia agreed to, but also the WTO's transparency and commercial accountability provisions."  U.S. firms also need PNTR to access Russia's WTO commitments in services, intellectual property, animal and plant health – and the WTO dispute settlement mechanism.

The United States currently accounts for only 4% of Russia's imports, but U.S. businesses are actively seeking to gain market share in this $310 billion import market.  "Our firms are increasingly looking at Russia as part of their global growth strategy," said Mr. Verona. "We see great long-term potential in Russia, but the challenges of doing business there require that U.S. firms avail themselves of all possible tools to address issues that may arise."

"Congress's timely action on Jackson-Vanik and PNTR with Russia will offer additional opportunities for U.S. business and the U.S. economy to prosper, as we create and maintain jobs based on increased trade with Russia," said Mr. Kleinfeld.

The U.S.-Russia Business Council (USRBC) represents the interests of its 250 U.S. and Russian member companies, providing business development and government relations support in both Moscow and Washington. The USRBC contributes to the stability and development of a free market in Russia and supports Russia's integration into the global economy. It also serves as the Secretariat for the Coalition for U.S.-Russia Trade (www.usrussiatrade.org). For more information, visit the USRBC online at: www.usrbc.org.

SOURCE U.S.-Russia Business Council

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RELATED LINKS
http://www.usrbc.org

View the original article here

USRBC Urges Congress to Not Hold Business Back from Opportunities in Russia

To: BUSINESS, FOREIGN AND NATIONAL EDITORS

WASHINGTON, March 14, 2012 /PRNewswire-USNewswire/ -- The U.S.-Russia Business Council (USRBC), the U.S.-based trade association leading the organized U.S. business community campaign to ensure that U.S. commercial interests are fully protected once Russia enters the World Trade Organization (WTO) this summer, urged the U.S. Congress today to not hold U.S. business back from export opportunities in Russia.

"Russia's $1.9 trillion economy is a promising market, and U.S. business should have the full benefits that come with Russia's WTO accession - just like our foreign competitors," said Klaus Kleinfeld, USRBC Chairman and Chairman and CEO of Alcoa, Inc. "Congress must work swiftly to graduate Russia from the Jackson-Vanik amendment and enact Permanent Normal Trade Relations (PNTR) with Russia to ensure that U.S. firms can stay competitive in the Russian market."

Russia has long fulfilled the requirements of the 1970s-era Jackson-Vanik amendment, which conditions Russia's trade status with the United States on Russia's emigration policies. Each U.S. President since 1994 has determined annually that Russia is in compliance with the Jackson-Vanik amendment and has extended normal trade relations (NTR) to Russia, but in order for U.S. business to fully access Russia's WTO commitments, Congress must graduate Russia from Jackson-Vanik and make Russia's NTR status permanent.

"Russia prefers high-quality goods, and we also anticipate a significant increase in its demand for services as it implements WTO commitments and its economy becomes more competitive," noted USRBC President and CEO Edward Verona. "Russia can either turn to U.S. manufacturers and service providers to diversify its economy - or it can sign contracts with our competitors in Europe, Asia and elsewhere. It's time for the U.S. Congress to definitively recognize that Russia is in compliance with Jackson-Vanik amendment and pass PNTR so that U.S. firms can not only access the WTO market liberalizations Russia agreed to, but also the WTO's transparency and commercial accountability provisions." U.S. firms also need PNTR to access Russia's WTO commitments in services, intellectual property, animal and plant health - and the WTO dispute settlement mechanism.

The United States currently accounts for only 4% of Russia's imports, but U.S. businesses are actively seeking to gain market share in this $310 billion import market. "Our firms are increasingly looking at Russia as part of their global growth strategy," said Mr. Verona. "We see great long-term potential in Russia, but the challenges of doing business there require that U.S. firms avail themselves of all possible tools to address issues that may arise."

"Congress's timely action on Jackson-Vanik and PNTR with Russia will offer additional opportunities for U.S. business and the U.S. economy to prosper, as we create and maintain jobs based on increased trade with Russia," said Mr. Kleinfeld.

The U.S.-Russia Business Council (USRBC) represents the interests of its 250 U.S. and Russian member companies, providing business development and government relations support in both Moscow and Washington. The USRBC contributes to the stability and development of a free market in Russia and supports Russia's integration into the global economy. It also serves as the Secretariat for the Coalition for U.S.-Russia Trade (www.usrussiatrade.org). For more information, visit the USRBC online at: www.usrbc.org.

SOURCE U.S.-Russia Business Council

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USRBC Urges Congress to Not Hold Business Back from Opportunities in Russia - YAHOO!

To: BUSINESS, FOREIGN AND NATIONAL EDITORS

WASHINGTON, March 14, 2012 /PRNewswire-USNewswire/ -- The U.S.-Russia Business Council (USRBC), the U.S.-based trade association leading the organized U.S. business community campaign to ensure that U.S. commercial interests are fully protected once Russia enters the World Trade Organization (WTO) this summer, urged the U.S. Congress today to not hold U.S. business back from export opportunities in Russia.

"Russia's $1.9 trillion economy is a promising market, and U.S. business should have the full benefits that come with Russia's WTO accession - just like our foreign competitors," said Klaus Kleinfeld, USRBC Chairman and Chairman and CEO of Alcoa, Inc. "Congress must work swiftly to graduate Russia from the Jackson-Vanik amendment and enact Permanent Normal Trade Relations (PNTR) with Russia to ensure that U.S. firms can stay competitive in the Russian market."

Russia has long fulfilled the requirements of the 1970s-era Jackson-Vanik amendment, which conditions Russia's trade status with the United States on Russia's emigration policies. Each U.S. President since 1994 has determined annually that Russia is in compliance with the Jackson-Vanik amendment and has extended normal trade relations (NTR) to Russia, but in order for U.S. business to fully access Russia's WTO commitments, Congress must graduate Russia from Jackson-Vanik and make Russia's NTR status permanent.

"Russia prefers high-quality goods, and we also anticipate a significant increase in its demand for services as it implements WTO commitments and its economy becomes more competitive," noted USRBC President and CEO Edward Verona. "Russia can either turn to U.S. manufacturers and service providers to diversify its economy - or it can sign contracts with our competitors in Europe, Asia and elsewhere. It's time for the U.S. Congress to definitively recognize that Russia is in compliance with Jackson-Vanik amendment and pass PNTR so that U.S. firms can not only access the WTO market liberalizations Russia agreed to, but also the WTO's transparency and commercial accountability provisions." U.S. firms also need PNTR to access Russia's WTO commitments in services, intellectual property, animal and plant health - and the WTO dispute settlement mechanism.

The United States currently accounts for only 4% of Russia's imports, but U.S. businesses are actively seeking to gain market share in this $310 billion import market. "Our firms are increasingly looking at Russia as part of their global growth strategy," said Mr. Verona. "We see great long-term potential in Russia, but the challenges of doing business there require that U.S. firms avail themselves of all possible tools to address issues that may arise."

"Congress's timely action on Jackson-Vanik and PNTR with Russia will offer additional opportunities for U.S. business and the U.S. economy to prosper, as we create and maintain jobs based on increased trade with Russia," said Mr. Kleinfeld.

The U.S.-Russia Business Council (USRBC) represents the interests of its 250 U.S. and Russian member companies, providing business development and government relations support in both Moscow and Washington. The USRBC contributes to the stability and development of a free market in Russia and supports Russia's integration into the global economy. It also serves as the Secretariat for the Coalition for U.S.-Russia Trade (www.usrussiatrade.org). For more information, visit the USRBC online at: www.usrbc.org.

SOURCE U.S.-Russia Business Council

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Envoy urges Americans to invest in Pakistan

Internews/Islamabad

Pakistan’s ambassador to the United States Sherry Rehman has urged American investors to benefit from enhanced business opportunities that Pakistan offers in several potential areas.
Speaking to members of US-Pakistan Business Council, the envoy cited the example of fast-growing telecommunications sector, saying telecom companies were aggressively bidding for a market of 100mn mobile users and others should follow the suit.
She highlighted the fact that a number of American companies were already successfully doing business in the country and contributing to better economic relations.
“The Council can greatly help in dispelling adverse perceptions in the US by narrating their business success stories in Pakistan to their fellow investors, political leaders and opinion makers,” she said at the US Chamber of Commerce.
Islamabad, she said, is committed to providing enabling environment and a level-playing field to international investors and has been rated at the top in South Asia for ease in doing business.
The ambassador said one of the key priorities during her assignment in Washington would remain promoting stronger linkages between the private sectors of the two countries.
Despite the continuing global financial crisis and regional situation, Pakistan last year achieved a 28% increase in exports, which were worth $25bn.
“The positive trends have continued in the last seven months, and other macro-economic indicators are showing hopeful signs.”
“We recognise that we have work to do on infrastructure and we seek your assistance on energy investment,” she added. Rehman also reiterated Pakistan’s interest towards concluding a Bilateral Investment Treaty with the United States.
“A free trade agreement with the US is an important priority for Pakistan. I am sure many people present here are fervent advocates of open market and realise the benefits to be achieved from an FTA between the two countries.”
Pakistan and the United States had a robust trading relationship and the current volume of bilateral trade has doubled to $5.50bn.“While this may be a source of some satisfaction on both sides, we firmly believe that the potential for enhancing trade relations between the two countries is far greater than that was has been achieved so far.”
Welcoming the Pakistani ambassador on behalf of members of the US-Pakistan Business Council, Chairman Miles Young said that despite international financial difficulties, the American companies have made substantial profits and continue to prosper.He said the US was committed to advancing joint business goals together with the Pakistani embassy.

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Business Growth Fund urges investors ‘not to wait until tomorrow’ to grab opportunities

THE office serving Wales for the £2.5bn Business Growth Fund (BGF) has appointed Ned Dor-bin as a senior investment manager.

The fund, established to support growing small and medium sized businesses by providing long-term equity investment, has its regional office serving the Welsh and south-west of England markets in Bristol. It is headed by Paul Oldham, former corporate finance director for Grant Thornton based in Cardiff.

It follows the appointment of James Austin as investment director in December and brings BGF’s Bristol based team to four and its UK-wide investment team to 51.

Mr Dorbin has acted both as an adviser and investor for small and medium-sized businesses, most recently with Maven Capital Partners where he spent five years. Prior to that, he trained as a chartered accountant at BDO and then worked in their corporate finance lead advisory team.

Regional director for the BGF Mr Oldham, who lives in Cardiff, said: “I am delighted to welcome both Ned and James to BGF’s South West and South Wales regional team and see this as a very positive start to 2012.

“Clearly economic conditions continue to be challenging; but we need companies to be considering the opportunities and focusing on what they can influence. Lack of investment cannot be a long-term strategy for a successful growing business.

“It can only lead to decline. Our message to businesses is that now is a great time to invest.

“If you wait until tomorrow, your competitors may have got there first.”

Mr Oldham said the BGF will be focused on finding, encouraging and supporting ambitious business owners and helping them to envisage what they could do with new capital and our support.”

The Bristol office is looking to back smaller and medium sized businesses from the South West and South Wales with an annual turnover of approximately £5m to £100m.

Businesses that meet the BGF’s investment criteria will be offered long term capital of around £2m to £10m, in return for a minority equity stake in the company and a seat on the board for a BGF director.

Mr Oldham said he is continuing to talk to a number of Welsh-based businesses over potential investment deals.

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Think big in 2012! US ambassador urges Portland Chamber to dare to be different - Jamaica Gleaner

Think big in 2012! US ambassador urges Portland Chamber to dare to be different - Lead Stories - Jamaica Gleaner - Saturday | January 14, 2012 Saturday | January 14, 2012 Kingston           Home Lead Stories News Sports Entertainment Business Letters Commentary Flair Health World News Lifestyle In Focus Auto Social Outlook Food Art & Leisure Classifieds Jobs Photos Radio Mobile Version
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Think big in 2012! US ambassador urges Portland Chamber to dare to be different Published: Saturday | January 14, 2012 Comments 0

Gareth Davis, Gleaner Writer PORT ANTONIO, Portland: UNITED STATES (US) ambassador to Jamaica, Pamela Bridgewater, has urged the Portland Chamber of Commerce to be a stronger voice within the tourist industry and to do more to capitalise on business opportunities. Bridgewater was addressing the chamber's annual general meeting at the Port Antonio Marina on Thursday. She told the gathering that it was important that the chamber maximise the benefits that are available and use the various avenues of economic trade opportunities between Jamaica and the US. "We challenge you to make exports to the US favourable to Jamaicans. We know that small businesses - such as those in Portland and other places - comprise the bulk of this parish economy and, therefore, I think that you are missing a very important business opportunity. We stand ready to work with you, to assist your business community, and to explore the tremendous potential of the Caribbean Basin Initiative (CBI). Think big in 2012. Don't stay where you are. Explore, as the sky is the limit for you." Opportunities to explore Bridgewater said over 90 per cent of Jamaica's exports to the US can enter that market duty-free under the CBI or under the Generalised System of Preferences. "Jamaican exporters are not taking full advantage of this opportunity. Jamaica's ginger is of the highest quality in terms of its benefit to individuals, its taste, flavour, and its properties. I know that those who grow ginger are looking for ginger capital. And if those who have capital would put some of that capital together, perhaps those individuals could go ahead and market this ginger in places around the world, bringing value added to Jamaica and Jamaicans." rural@gleanerjm.com

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